We just published this morning our outlook for 2022 under our STANDPoint series. In the strategy note titled “Egypt Valuation Repertoire”, we lay down our outlook for 2022 in five sections:
FOREWORD, where we take a look back at 2021 before introducing our “P2C2” Matrix and explain our investment and risk rating systems. We also show case how well our 2021 long and short ideas outperformed, generating an average return of 17.9% per idea. Lastly, we look back at how different asset classes performed in 2021 and the prior 20 years.
MACROView, where we analyze the macro picture globally in brief and locally in detail, ending up with the country’s economic KPIs and our macro estimates.
STOCKView, where we revisit our factor-based analysis of Egyptian stocks, covering characteristics such as style, quantitative, beta, trading liquidity, and volatility.
VALUATIONRepertoire, where we summarize our top picks for the market in 2022 with 15 top stock picks one by one.
MARKET in Figures, where we summarize the market performance and key KPIs in figures to focus on certain aspects such as trading statistics, category performance in 2021, and investor trading activity by type and nationality.
POSITIVE
15 top stock picks: ABUK, BINV, CICH, COMI, PHAR, SWDY, FAIT/FAITA, IDHC, WCDF, MICH, EGSA, OLFI, ORAS, ORWE, and ETEL.